2011 Jul 01 Money Off Roads and Cars on Bridges
Beijing’s real estate constantly makes headlines for its high prices and speculation on bursting bubbles but it is nothing compared to Beijing’s highways that came away with a staggering profit last year. That number may take a hit after changes today. If you haven’t seen the latest Chinese driving stunt, here it is.
Forget real estate, the market to go into is roads. Beijing’s fifteen expressways made more gross profit than Beijing’s real estate market last year raking in over 50 percent in profits while the real estate market only draws in less than 40 percent. The final draw made express companies a tidy sum of RMB 5 billion.
Expect that number to possibly change after the airport toll is reduced from RMB 10 to RMB 5. That change goes into effect today.
If you’ve been looking for a way to deal with Beijing’s traffic, here’s a unique – albeit asinine – technique.
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Re: Money Off Roads and Cars on Bridges
another story that readers should be alert to: You only have to pay one way if you are passing through tollbooth at the entrance to the airport.
If you are driving into the airport for pickup/dropoff, save your toll receipt when you go in, and on your way out, flash it to the toll booth operators in lieu of payment.
Apparently, the toll takers will not let you in on this little secret if you offer to pay and will collect your toll anyhow.
A scandal broke out a few weeks ago when this was discovered.
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